Monday, December 20, 2021

Reminder: TaxWise - December 2021 Holiday Hours

This is a reminder that the TaxWise offices will be closed:

  • Friday, December 24th
  • Friday, December 31st

SUPPORT
If you require Support assistance during those days, please enter a web ticket through this link and we will respond when normal business hours resume.

Find answers to your questions in our Knowledge Base.

Please feel free to Contact Us online if you have any questions.


SALES
If you have not purchased or renewed TaxWise for Tax Year 2021, please keep those holiday closure dates above in mind.  You can contact your Account Manager at 800-495-4626 to get setup for the 2021 season. 

Wolters Kluwer wishes you a happy and safe holiday season!  And a very successful Tax Season. 

Friday, December 17, 2021

NC Business Recovery Grant Program

  NC is pleased to announce that the application and webpage is now available on NCDOR's websiteThe deadline to apply is January 31, 2022.

 

The program will issue a one-time payment to eligible North Carolina businesses that experienced significant economic loss due to COVID-19. Two types of grants will be available to eligible businesses that suffered an economic loss of at least 20 percent during the pandemic:

  • hospitality grant will be available to an eligible arts, entertainment, and recreation business, as well as an eligible accommodation or food service business such as a hotel, restaurant, and bar.
  • reimbursement grant will be available to an eligible business not classified in NAICS Code 71 and 72 and that did not receive funding from other relief programs including Paycheck Protection Program, COVID-19 Job Retention Grant, and EIDL Advance.

 We are looking for partners to assist us with outreach so that all eligible NC business owners have the opportunity to apply.

  • Use the attached Outreach Toolkit and Flyers to raise awareness of the program throughout your networks. It contains highly useful details about the program and application process, FAQs, and example language to use on social media.
  • If you'd like to host an event with NCDOR for your members or have someone from NCDOR speak at your events, please contact me as soon as possible. NCDOR will do everything it can to accommodate any requests.

Wednesday, December 15, 2021

Advance Child Tax Credit Payments (ACTCPs) – Letter 6419 due out in January

 Did your customers receive at least one (1) Advance Child Tax Credit Payment (ACTCP) over the summer/fall of 2021?

If so, the IRS will be sending them Letter 6419 in January. The information in this letter is important as you prepare your customers’ 2021 tax return.  It shows the total amount of payments received, which will assist in calculating what they are eligible for as part of their TY 2021 taxes.  If the taxpayer(s) do not have their 6419, the payment amounts can also be found in the CTCUp Portal.  Many taxpayers like to file as early as possible so authenticating through the portal may be the fastest way to ensure the accuracy of these payments when filing for 2021.

If the accurate amounts from the 6419 letter or CTCUp (for both taxpayer and spouse, if applicable) are not entered, the return will fall into error processing by IRS, delaying the refund deposit. 

For more info, please visit the IRS Site, Advance Child Tax Credit Payments

Monday, December 13, 2021

Reminder: EFC and IRS E-filing Shutdown for TY 2018-2020 - Business Returns

Please take note of this important information about electronic filing.


IRS has announced its MeF (e-file) shutdown and cutover for Tax Year 2021. To ensure that all business tax returns e-filed through the MeF system are processed in a timely manner, submissions must occur before IRS shuts down the system on Sunday, December 26, 2021, at 11:59 a.m. Eastern time.

Electronic Filing Center (EFC) Maintenance/Shutdown 
To prepare for the upcoming season and to ensure that all business returns for tax year 2020 are processed timely, Wolters Kluwer will shut down the Electronic Filing Center (EFC) on Tuesday, December 21, 2021, at 11:00 PM EST (in advance of the IRS Business E-filing Shutdown) for the following returns:

  • Partnership (1065)
  • Corporation (1120)
  • S Corporation (1120S)
  • Fiduciary (1041)
  • Employee Benefit Plans (5500)
  • Exempt Organization (990 Series)
  • 94X Series
All other return types not listed including state, local, and school district returns
This maintenance will end no later than the date that the IRS opens for tax year 2021, which is yet to be announced. During this maintenance period, you will NOT be able to:

  • Transmit returns
  • Receive acknowledgements (acks)

Final Day for Electronic Filing of 2018 Returns

Tuesday, December 21, 2021, is the final day that tax year 2018 returns can be electronically filed. Any acknowledgements must be retrieved by the user no later than December 26, 2021 at 11:00 PM EST for TY18 e-files. EFC for TY18 will not be available after December 26, 2021 at 11:00 PM EST to pick up these acks.

Friday, December 10, 2021

IRS Announces Delays in E-file Application Processing Time

 Please see the announcement below from the IRS

The IRS is experiencing delays affecting the processing of e-file Applications. You do not need to take any actions. In lieu of calling the e-help desk, continue to monitor your e-file application through e-services on IRS.gov.

We are working diligently to ensure e-file applications are processed in time for participation in the upcoming filing season.

We apologize for any inconvenience this may cause.

Tuesday, December 7, 2021

TaxWise - December 2021 Holiday Hours

The holidays are here and the New Year fast approaches.  This is a reminder that the TaxWise offices will be closed:

  • Friday, December 24th
  • Friday, December 31st

SUPPORT
If you require Support assistance during those days, please enter a web ticket through this link and we will respond when normal business hours resume.

Find answers to your questions in our Knowledge Base.

Please feel free to Contact Us online if you have any questions.


SALES
If you have not purchased or renewed TaxWise for Tax Year 2021, please keep those holiday closure dates above in mind.  You can contact your Account Manager at 800-495-4626 to get setup for the 2021 season. 

Wolters Kluwer wishes you a happy and safe holiday season!  And a very successful Tax Season.

Friday, December 3, 2021

IRS FIRE System shuts down tonight.

 We apologize for any inconvenience that this may cause you.  

We were just made aware that the IRS FIRE system is shutting down tonight at 6 PM EST and will not reopen until January 4th, 2022.  If you transmit any 1099 returns after 5 PM EST tonight you will receive an EFC Reject 49.  If you transmitted a return yesterday or earlier today, then you may not receive an acknowledgement until the FIRE System reopens in January.